Lakers sale is good for Buss family and team's fans

The Los Angeles Lakers organization shocked the entire sports world for the second time this calendar year by executing the highest sale ever for a North America-based professional sports franchise.

The Buss family, led by former team president and controlling owner Jeanie Buss, sold their controlling ownership interest in the team to Mark Walter, the CEO and chairman of diversified holding company TWG Global, for a franchise valuation of approximately $10 billion, according to ESPN's Shams Charania. Walter has been a stakeholder in the Lakers since 2021, when he purchased Phil Anschutz's share for approximately $1.35 billion.

The Buss family will keep a 15 percent minority interest in the team for an unspecified amount of time.

The city of L.A. is very familiar with Walter as he’s the primary owner and chairman of the Los Angeles Dodgers, which have won two World Series under his leadership, including last season. Once the dust of the record-breaking sale settles, he will be expected to continue delivering championships on the hardwood.

Mark Walter Must Continue The Buss Family Legacy

When Jerry Buss bought the Lakers in 1979 for $67.5 million, they had already won six championships, but only one of them in Los Angeles.

In Year 1, Buss drafted Magic Johnson first overall, transformed the Forum into the hottest sports ticket and brought a second title to L.A.

In the 45 years that followed, no team has dominated like the Lake Show, with 11 titles over that time.

With the Lakers’ standard of success being built around getting big-name free agents like Shaquille O’Neal and LeBron James or trading for Hall of Famers like Kareem Abdul-Jabbar and Paul Gasol, or an NBA 75th Anniversary player like Anthony Davis, the blueprint has been built. 

Thanks to all those great players delivering at least one title to the Lakers in their tenure with the club, Walter and current Lakers superstar Luka Doncic are officially on the clock to deliver the franchise's 18th world title as soon as possible. 

Another reason (probably the biggest one) this sale is huge is that it represents the modernization of the Lakers going forward. Minus the LeBron and AD moves, in recent seasons, the Lakers have been unwilling or unable to consistently make big moves that turned into championships. 

Now, when it comes to making big moves via free agency or trade, the Lakers will always be a realistic possibility to pull off whatever move they need at the time to win another title. With Walter's deep pockets and proven ability to build a perennial championship team in professional sports, this move puts other teams on notice as the Lakers have the realistic ability to produce the league's next dynasty despite the double apron tax owners must pay in today's NBA.

In the big picture, Walter coming to the NBA table with a championship pedigree established in L.A. allows both the Buss family and Lakers nation to be winners of the biggest sale in sports history.